Rockefeller heirs call on banks to stop lending to fossil fuel companies

  • Descendants of Standard Oil founder John D. Rockefeller are calling on the major banks to put an end to fossil fuel financing.
  • Growald, who is a grandson of former Chase Manhattan CEO David Rockefeller, noted that JPMorgan is the starting point since the bank is by far the largest fossil fuel lender.
  • “There’s a very direct economic connection. If banks such as JPMorgan don’t change their practices, ultimately, it’s very poor business over the longer term,” he said Friday on CNBC’s “Squawk on the Street.”

Link to article on CNBC

Pippa Stevens @PIPPASTEVENS13

Founded by members of the Rockefeller family, BankFWD’s mission is to accelerate the transition to a just, zero-carbon economy in line with the 1.5° target of the Paris Climate Agreement.

For more information, please write to us at
info@bankfwd.org

Copyright 2020 BankFWD. All Rights Reserved.

BankFWD is a fiscally-sponsored initiative of the Sustainable Markets Foundation 501(c)3.